By Alex Finkelstein, Real Estate Channel
I don’t know about you, but when it comes to talking about timeshares, I am very careful what I say because many folks swear by them and just as many swear at them.
But now comes Moishe Pipuk, a loyal Real Estate Channel reader, who has just goaded me into doing a column on timeshares.
I like Pipuk because he says he has nothing to gain or lose by telling me off, pointing out my mistakes, challenging my points and criticizing my grammar from time to time.
I don’t need too many friends like that.
Still, the fact remains that outside of condos, timeshare sales have suffered drastically in the residential sales market over the 22-month Recession.
Re-sales are non-existent. Some prices have plummeted 100 percent. Twenty-thousand-dollar-per-week units in some markets have dropped to $2,000. One-hundred-thousand-dollar-per-week units are down to $10,000.
All with no takers.